Reliance-linked firms bought electoral bonds in crucial election years – after an amendment

Firm linked to Mukesh Ambani-led Reliance Industries purchased electoral bonds in the middle of the 2019 Lok Sabha election as well as in a special window of sale opened ahead of the Gujarat and Himachal Pradesh elections in 2022.

The 2022 sale was made possible by a legislative amendment brought by the Modi government.

The Bharatiya Janata Party received the lion’s share of bonds raised during this period, data released by the Election Commission of India on March 14 shows.

The data was released after the Supreme Court of India ruled the electoral bond scheme, introduced by the Modi government in 2017, was illegal and unconstitutional.

Most of India’s top companies are missing from the list of the buyers of electoral bonds. An initial scan did not reveal any purchases of bonds by the Adani and Tata group of companies.

Reliance Industries, India’s most valued company, did not purchase any electoral bonds. However, firms linked to the Reliance Group through common directors, addresses and associates appear on the list.

Qwik Supply Chain Private Limited, which purchased bonds worth Rs 410 crore, is one of them, as previously reported by a collaborative project involving over 20 reporters and three independent news organisations – Newslaundry, Scroll, and The News Minute.

One of the company’s three directors, Tapas Mitra, is also...

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